News - Page 254

Lexus UK has retained its title as the top-rated new car retail franchise in the National Franchised Dealers Association (NFDA) Dealer Attitude Survey Winter 2020/21.

Advertisement feature from Experian

Vertu Motors has acquired the naming rights to the Eagles Community Arena in Newcastle in a five-year deal.

Demand for used cars is starting to accelerate as buyers look to make post-lockdown purchases, according to Starline Motor Finance.

Renault has sold its 1.5% share in Mercedes-Benz carmaker Daimler for 1.143 billion euros (£0.98bn) as its looks to reduce debt and leverage profits.

Polestar has donated 4.4 tonnes of food to charity Fareshare UK, which will be distributed in the Manchester area following the opening of its second Space in the city.

UK accounting watchdog the Financial Reporting Council (FRC) has opened an investigation into Deloitte audit of Lookers PLC’s financial statements for 2017 and 2018.

Renault’s UK franchised car dealers are set to adopt a new logo for the French carmaker in 2022 after it followed fellow OEMs into a 2D re-brand.

Assurant has extended its used car warranty partnership with the RAC to provide protection cover for RAC Dealer Network customers until 2029.

Demand for subprime lending has more than doubled in the last year, according to motor finance broker Caerus Capital.

Alphera Financial Services has launched a new online finance and insurance (F&I) training programme, ‘Funding Essential Skills'.

CarGurus’ 2021 Buyer Insight Report has found that the 63% of car buyers are now open to the idea of buying a vehicle online as a result of the impact of the COVID-19 pandemic.

Hyundai is enhancing its range of electrified models with the launch of the new Tucson plug-in hybrid and updated Kona Electric.

Mazda UK managing director Jeremy Thomson has told AM that the brand plans to “capture back” 50% of March sales lost to COVID-19 ‘Lockdown 3’ showroom closures in April, May and June.

Staff headcount at iVendi is set to “almost double” over the next three years, in support of expansion plans in the UK and Europe, says chief executive James Tew.

Car buyers turning to televised sports during COVID-19 ‘Lockdown 3’ look set to continue to be a prime target for retailers, with Cazoo, heycar and Vanarama all securing new football-related marketing opportunities.

The automotive industry is, without question, going through a major period of change. The knock-on effect of the COVID-19 pandemic paired with a shift in consumer buying habits is challenging business leaders to squeeze the most out of their assets.

The UK Government is set to start the process this year of determining its minimum zero emission distance for hybrid cars on sale after 2030, in its delivery plan.

The Independent Motor Dealers Association (IMDA) has entered a new partnership with ecommerce platform provider SilverBullet.

CSM Group has taken on the Citroen franchise for Yeovil, Somerset, opening a new showroom under its Rowcliffes brand after Motorwell Citroen closed.

Castrol has promoted sales manager Marc Perkins to the newly created role of head of sales, UK & Ireland, as part of a new ambition to increase its market share.

Costly corporate identity upgrades and showroom developments should be pulled forward to take advantage of Rishi Sunak’s ‘super-deduction’ tax relief offer, according to RSM.

GForces has developed a new video solution for car retailers that automatically produces video content for all vehicles in stock.

Advertisement feature from Cox Automotive

New data from Cox Automotive shows orders for new ‘21’ number plate cars in March, usually the industry’s best performing car sales month of the year, were down by as much as 30%.

Marshall Motor Holdings chief executive Daksh Gupta has said that the AM100 PLC will consider repaying Government furlough payments “if we have the opportunity”.

Skoda’s franchised car dealers have opened their order books for the Czech brand’s first fully electric vehicle (EV) – the Enyaq iV SUV.

Minstergate Group has jumped wholeheartedly into the MG Motor UK franchise with the opening of new dealership sites in York, Hessle and Scarborough.

Marshall Motor Holdings reported revenues down by 5.3% to £2.15 billion as pre-tax profits rose 3.7% to £20.4 million in a COVID-19 impacted 2020 car retail market.

The average list price of a used car increased by 1.5% in February, climbing from £12,370 to £12,558, according to eBay Motors Group.